Why Business Travelers Prefer Uber TLC Rental Over Taxis

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Uber drivers using their own vehicles or TLC rental are the more popular choice
for those who business travel
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PressReleasePing - June 28, 2018 -The recent upswing in the
US economy is making strong changes to the habits of business
travelers. One of the more interesting trends is how those who
Friendly is one of the leading TLC
car rental and TLC leasing companies in
New York.
travel frequently for business are using rideshare programs like Uber and Lyft over traditional taxi cabs. This means for
anyone considering driving their own vehicle or using TLC car leasing to obtain a qualified vehicle for Uber driving has
an even stronger reason to become a rideshare driver.
Increase in Uber & Lyft Usage
A study by Certify, an expense management firm, showed that over 68% of the travel receipts from corporations who
have employees that travel for business used rideshare programs like Uber and Lyft over taxi cabs in 2017. This is a
remarkable rise in usage compared to 2016 when 56% of all receipts from ground transportation were from Uber and
Lyft.
In addition to preferring rideshares over taxis, the study also showed that fewer business travelers are renting vehicles
as well. The rental of vehicles in 2017 represented 25% of the market, an 8% drop, while the use of taxis fell 4% to
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account for only 7% of the total use of ground transportation. This trend is expected to continue as the economy heats
up and businesses expand their travel services to their employees.
Why is this Happening?
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The rise in usage for Uber and Lyft over the past three years has been remarkable and the shift appears to be more
than simply the presence of more Lyft and Uber drivers, whether they use their own vehicle or a TLC car rental for their
rideshare services.
One big reason why this is happening is the souring of business travelers over the use of rental vehicles. While the
S&P 500 has soared over 41% over the past three years, major car rental firms such as Avis and Hertz have dropped
precipitously. Avis Budget Group stocks have dropped about 19% while Hertz has plummeted by over 71% in the same
three-year period.
The drop in stock prices relates to the drop in business that the major rental car companies have seen as business
travelers are now relying on rideshare programs more than ever. The major reason seems to be the combination of
convenience and cost that makes Uber the better choice for those who travel frequently.
Despite the convenience of major car rental firms being located at airports, business travelers are preferring to simple
call or text an Uber driver to take them to their destination. The reduction in cost is considerable, even when compared
to traditional taxi services. Plus, the convenience of calling from anywhere at anytime is also a plus for business
travelers.
For those who are considering driving for a rideshare company like Uber or Lyft, the opportunities are only growing
thanks to the increase in usage from business travelers. For those who have qualifying vehicles or use the services of
TLC car leasing or rental, this represents a powerful opportunity to build up a second income stream.
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Category: Automotive
Region: North America
Tags (meta-keywords): TLC Car Rental , TLC Leasing , TLC Cars , TLC Rental Car , TLC Car , Uber Car , Cars
For Lyft , Cars For Uber , Drive For Uber , TLC Rentals
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